Post Office news: Post office is considered a safe investment. Let us tell you that the post office is the oldest and largest banking system in the country, which includes Savings Bank, Recurring Deposit, Time Deposit, National Savings Certificate, Kisan Vikas Patra, PF, Monthly Income Account Scheme, Sukanya Samriddhi Yojana and Senior Citizens Savings Scheme. It caters to the investment needs of urban and rural customers through schemes like
If you are a post office customer then there is important news for you. The Comptroller and Auditor General (CAG) has issued a shocking report. According to this CAG report, the employees of the post office i.e. post offices have misused public funds of Rs 95.62 crore between November 2002 and September 2021. This is great news for those investing in the post office savings scheme. Actually, the post office savings scheme has been considered very safe, in such a situation such an incident can shock the customers.
Post office safe plan
It is worth noting that people who do not have the ability to take risk, they also invest in the post office, because the post office is considered a safe investment. Let us tell you that the post office is the oldest and largest banking system in the country. The system caters to the investment needs of urban and rural customers through schemes like Savings Bank, Recurring Deposit, Time Deposit, National Savings Certificate, Kisan Vikas Patra, PF, Monthly Income Account Scheme, Sukanya Samriddhi Yojana and Senior Citizens Savings Scheme. Not only this, the Department of Posts (DoP) provides these services on an agency basis to the Ministry of Finance.
What does this report say?
According to the news published in India, the audit report of the CAG on Finance and Communications tabled in Parliament on Monday said, ‘Fake withdrawals of Rs 62.05 crore were made by postal workers in five circles from fake accounts. These were shown as active with fake balances and then closed. Cash deposits of Rs 9.16 crore by customers in eight circles were recorded in passbooks but not deposited in their post office accounts. Later the postal workers withdrew the money.
In four circles, fraudulent withdrawals of Rs 4.08 crore were made from savings accounts of customers with fake sign/thumb impressions done by postal workers. There were other cases of unauthorized use of user IDs and passwords by postal workers or outsiders. Due to this fraud of Rs 3 crore took place in four circles. Not only this, postal workers in connivance of outsiders in two circles.
CAG gave information
After this embezzlement of post office employees, the CAG said that out of fraud / rigging of Rs 95.62 crore, the postal department recovered Rs 14.39 crore (including penalty / interest of Rs 40.85 lakh) from the concerned persons. That is, Rs 81.64 crore is to be recovered. Soon it will also be recovered.